1. Summary Information

		Country	India
Company Name	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Hyun Chul Sim
Status	Satisfactory	Principal Name 2	Mr. Sang Lyeol Cha
		Registration #	55-112387
Street Address	1/24, Asaf Ali Road, Ground Floor, New Delhi – 110002, India
Established Date	11.09.2001	SIC Code	--
Telephone#	91-11-23234552 / 23234307	Business Style 1	Manufacturer
Fax #	91-11-23230819 / 23265278	Business Style 2	Exporter
Homepage	Not Available	Product Name 1	Dell Laptops
# of employees	Not Available	Product Name 2	Computers Hardware
Paid up capital	Rs.10,274,000/-	Product Name 3	Computer Peripherals
Shareholders	Directors or relatives of directors-100%	Banking	Citibank
Public Limited Corp.	NO	Business Period	12 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (47)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	175,233,000	Current Liabilities	272,174,000
Inventories	136,215,000	Long-term Liabilities	244,068,000
Fixed Assets	418,199,000	Other Liabilities	23,411,000
Deferred Assets	0,000	Total Liabilities	539,653,000
Invest& other Assets	0,000	Retained Earnings	179,720,000
		Net Worth	189,994,000
Total Assets	729,647,000	Total Liab. & Equity	729,647,000
Total Assets (Previous Year)	528,391,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	Not Available	Net Profit	Not Available
Sales(Previous yr)	1,587,495,000	Net Profit(Prev.yr)	40,181,000

MIRA INFORM REPORT

Report Date :

18.03.2013

IDENTIFICATION DETAILS

Name :	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED
Registered Office :	1/24, Asaf Ali Road, Ground Floor, New Delhi - 110002
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.09.2001
Com. Reg. No.:	55-112387
Capital Investment / Paid-up Capital :	Rs.10.274 Millions
CIN No.: [Company Identification No.]	U31909DL2001PTC112387
TAN No.: [Tax Deduction & Collection Account No.]	DELI03282G
PAN No.: [Permanent Account No.]	AAACI0344L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Computers Hardware, Computer Peripherals , Banded Laptops, Dell Laptops, Lenove Laptops, Home Computers, Personal Computers, Workstations, Internet Servers, Computer Networking, Intel Web designing, Internet Cables , Monitors Cables, Printer Cables, Modem Cables. etc
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 750000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears slight dip in the profitability during the current year. However, general financial position of the company appears to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	1/24, Asaf Ali Road, Ground Floor, New Delhi - 110002, India
Tel. No.:	91-11-23234552 / 23234307
Fax No.:	91-11-23230819 / 23265278
E-Mail :	lalit@vamco.in v_a_m@vsnl.com office@vamco.in
Factory 1 :	B-48, Hosiery Complex, Phase-II, Noida - 201301, Uttar Pradesh, India.
Tel. No.:	91-120-4323981 / 2323982 / 2323983
Fax No.:	91-120-4323984

DIRECTORS

As on: 29.09.2012

Name :

Mr. Hyun Chul Sim

Designation :

Director

Address :

1511, ATS Green Village, 1^st Floor, Sector 93 A, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

24.08.1976

Date of Appointment :

01.09.2005

DIN No.:

02007189

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31909DL2001PTC112387	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED	Director	01/09/2005	01/09/2005	-	Active	NO
2	U51395DL2008PTC185839	HANA ELECTRONICS INDIA PRIVATE LIMITED	Director	15/12/2008	15/12/2008	-	Active	YES

Name :

Mr. Sang Lyeol Cha

Designation :

Director

Address :

6602, ATS III, Sector 50, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

09.11.1961

Date of Appointment :

15.09.2006

DIN No.:

02338813

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Hyun Chul Sim	1027428
Su A Lee	10
Total	1027438

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Computers Hardware, Computer Peripherals , Banded Laptops, Dell Laptops, Lenove Laptops, Home Computers, Personal Computers, Workstations, Internet Servers, Computer Networking, Intel Web designing, Internet Cables , Monitors Cables, Printer Cables, Modem Cables. etc

Products :

Product Description	ITC Code
Printed Circuit Board for Air Conditioner	84159000
Printed Circuit Board for Washing Machine	84509010
Printed Circuit Board for CTV	85169000

PRODUCTION STATUS (As on: 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Washing Machine PCB	Nos	300000	612704
Air Conditioner PCB	Nos	2000000	2409424
Refrigerator PCB	Nos	70000	NA
Microwave Owen PCB	Nos	NA	274651
Air Conditioner Ctl Box	Nos	750000	1606282
CTV PCB	Nos	240000	181347

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Citibank N.A, Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India

· Shinhan Bank, Mercantile House, Upper Ground Floor, 15, Kasturba Gandhi Marg,, New Delhi - 110001, India

· Citibank N.A, Jeevan Vihar, 3 Sansad Marg, New Delhi - 110001, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long Term Borrowing
Rupee term loans from banks	97.467	87.495
Term loans from others	53.797
Short Term Borrowing
Term loans	88.837
Total	240.101	87.495

Banking Relations :	--
Auditors :
Name :	VA Mehta and Company Chartered Accountants
Address :	409-409A, International Trade Towers, Nehru Place, New Delhi- 110019, India
PAN.:	AAAPM4504D

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1027438	Equity Shares	Rs.10/- each	Rs.10.274 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.274	10.274	10.274
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		179.720	145.259	105.078
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		189.994	155.533	115.352
LOAN FUNDS
1] Secured Loans		240.101	87.495	26.654
2] Unsecured Loans		3.967	2.197	2.880
TOTAL BORROWING		244.068	89.692	29.534
DEFERRED TAX LIABILITIES		19.538	10.734	8.758
TOTAL		453.600	255.959	153.644
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		418.199	138.031	106.780
Capital work-in-progress		0.000	107.434	32.134
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	136.215	107.910	140.268
	Sundry Debtors	72.446	96.318	194.303
	Cash & Bank Balances	0.752	7.532	4.326
	Other Current Assets	1.410	0.000	0.000
	Loans & Advances	100.625	71.166	57.828
Total Current Assets		311.448	282.926	396.725
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	204.428	250.356	352.082
	Other Current Liabilities	67.746	15.286	12.283
	Provisions	3.873	6.790	17.630
Total Current Liabilities		276.047	272.432	381.995
Net Current Assets		35.401	10.494	14.730
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		453.600	255.959	153.644

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	1587.495	1580.176
		Other Income	NA	NA
		TOTAL	NA	NA
Less	EXPENSES
		Office Expenses	NA	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA
	PROFIT BEFORE TAX		61.215	47.400
Less	TAX		21.034	17.319
	PROFIT AFTER TAX		40.181	30.081
	IMPORTS
		Raw Materials	NA	327.042
		Plant and Machinery	NA	6.165
	TOTAL IMPORTS		NA	333.207
	Earnings Per Share (Rs.)		39.11	29.28

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PBT/Sales)	(%)	NA	3.86	3.00
Return on Total Assets (PBT/Total Assets}	(%)	NA	14.54	9.41
Return on Investment (ROI) (PBT/Networth)		NA	0.39	0.41
Debt Equity Ratio (Total Debt/Networth)		1.28	0.58	0.26
Current Ratio (Current Asset/Current Liability)		1.13	1.04	1.04

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE:

Registered Office of the company has been shifted from New Delhi-110024, India to the present address w.e.f. 26.04.2007

UNSECURED LOAN:

Particulars	As on 31.03.2012	As on 31.03.2011
Short Term Borrowing
Term loans	3.967	2.197
Total	3.967	2.197

BANKERS CHARGES REPORT AS PER REGISTRY:

Corporate identity number of the company	U31909DL2001PTC112387
Name of the company	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1/24, Asaf Ali Road, Ground Floor, New Delhi – 110002, India v_a_m@vsnl.com
This form is for	Creation of charge
Type of charge	· Immovable property · Book debts · Others (Stocks)
Particular of charge holder	Citibank N.A, Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India roc@sdpa.in
Nature of instrument creating charge	Goods Security Agreement. Memorandum of Entry.
Date of instrument Creating the charge	07.09.2011
Amount secured by the charge	Rs.48.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest @ 11.00% per annum. Terms of Repayment Repayable on demand, annually renewable. Margin 25% against the said stocks. 25% against the said book debts. Extent and Operation of the charge First pari-passu charge by hypothecation of all the borrower's movable assets (including stocks and book debts) forming part of its current assets both present and future. First pari-passu charge on the property at Plot No. 27, Udyog Kendra, Ecotech III, Greater Noida industrial Development Area, Gautam Budh Nagar, Uttar Pradesh In favour of Citibank N.A Delhi for the repayment of all monies in respect of the credit facility, including outstanding balance and also all interest, costs, charges and expen
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of all the borrower's movable assets (including stocks and book debts) forming part of its current assets both present and future. Plot No. 27, Udyog Kendra, Ecotech III, Greater Noida industrial Development Area, Gautam Budh Nagar, Uttar Pradesh

FIXED ASSETS:

· Leasehold Land

· Plant and Machinery

· Air Conditioner

· Computer

· Generator

· Electrical Installation

· Furniture and Fixture

· Office Equipment

· Vehicles

· Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.16
UK Pound	1	Rs.81.74
Euro	1	Rs.70.50

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.